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Old 03-03-2017, 08:28 PM   #6
Benny
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Join Date: Feb 2017
Posts: 4
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I don't accept credit cards at my car dealership. Mainly for the chargeback potential as others have mentioned, plus the fees dig into your profit. You also have to remember the fees also go against all the state fees you collect like sales tax. The state won't give you a discount for their fees so for you it is a losing proposition.

Personally, I like getting paid by check. I have no preference if it is certified or personal. Some dealers only like certified bank checks but these get counterfeited all the time and good luck calling a bank to verify it's legitimacy. They won't do it. I don't mind cash as long as it's under $10,000 so you don't have to worry about IRS forms or having to count a large amount. I used to have a separate bank account for wire transfers. I've only ever had one person who was from out of state that wanted to pay by wire so I closed the account. Bank kept charging me an inactivity fee.
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